TripAdvisor set to go public after spin
TripAdvisor is due to go public today (Wednesday) by gaining a listing on the NASDAQ stock exchange in New York.
The company, with 1,172 employees and $486 million in revenue last year, is being spun out from Expedia, which itself was spun out of InterActive Corporation in 2005.
Going public will give the travel reviews site a higher profile in the travel industry, and could also help the company recruit, according to chief executive Steve Kaufer.
The Boston-based company operates TripAdvisor.com and 18 other travel sites, which collectively attract 40 million visitors a month. IAC chairman and chief executive Barry Diller will remain as the controlling shareholder of TripAdvisor and the company's chairman.
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